Financial services group Sanlam has announced details around its multi-billion rand BEE deal, which will see the company’s direct black shareholding increasing to more than 18%.
The deal involves the selling of a 5% stake to black investors and staff for up to R8.6bn, while giving its existing BEE shareholder, Ubuntu-Botho R2bn to invest in certain entities of the mother group.
Sanlam CEO Ian Kirk joined Business Day TV to discuss the deal and what it means for the company.
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